The Past Performance of the Parties Under a Continuing Contract

question 5

True/False

The past performance of the parties under a continuing contract is irrelevant in determining what the contract means.

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Definitions:

Share Issue Costs

Costs incurred by a company when it issues new shares of stock, including fees for legal services, accounting, underwriting, and registration.

Cost of Acquisition

The total of all expenses incurred to acquire an asset or business, including the purchase price and related costs.

Impairment Loss

The reduction in the recoverable value of an asset or cash-generating unit below its carrying value.